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PALIG Costa Rica: 15 Years Driving the Transformation of Workplace Well‑Being and Financial Protection
Costa Rica
October 28, 2025
Estimated Reading Time: 6m
- With 15 years of experience, PALIG Costa Rica has positioned itself as a leader in the private Personal Insurance market in the country.
- The company’s strength, stability, and trust have been key to its consolidation as a strategic ally for local and multinational companies and its more than 200,000 insured members.
- With over USD 200 million in premiums and annual growth close to 16.2%, it currently covers more than 226,000 employees from 500 companies nationwide.
San José, October 28, 2025 – Since the opening of the insurance market in 2008, Costa Rica has undergone a continuous transformation: the arrival of private insurers, the expansion of multinational companies, and the creation of new jobs have strengthened the relationship between insurers, contracting companies, and a broad network of local medical providers.
Over the past 15 years, Pan‑American Life Insurance de Costa Rica has established itself as one of the most competitive operations in the region. By the end of 2025, it is expected to reach over USD 200 million in premiums and annual growth close to 19% compared to the previous year.
“The group’s reputation as a leading provider of employee benefits and wellness solutions for local and multinational businesses continues to grow thanks to our ongoing commitment to product innovation, operational improvements, and world‑class service,” said José S. Suquet, Chairman of the Board and CEO of Pan‑American Life Insurance Group. “In Costa Rica, this model has been key to meeting the needs of large multinational companies that trust us as their preferred insurer,” he added.
PALIG Costa Rica has actively contributed to the development of a culture of preventive health and wellness, offering specialized solutions in life, accident, and health insurance. Its proactive approach, the international backing of the century‑old Group, and a robust medical provider network have been essential to meeting client needs with excellence.
The company, part of a group with more than 2,200 employees globally, maintains a strategy focused on meeting the needs of its strategic partners and insured members through digital transformation and the strengthening of operational processes. This focus has improved the service experience, facilitating access to medical services and policy management in a fast and secure manner.
“Celebrating 15 years in Costa Rica is a milestone that reflects our commitment to the country and to every person who has trusted us to protect their health and future. This anniversary not only marks a path of sustained growth but also the consolidation of long‑term relationships with companies, employees, and families who see PALIG as a strategic ally,” said Alfredo Ramírez, Regional Vice President, Country Management.
Opportunities After the Pandemic
During the pandemic, the insurance industry faced unprecedented challenges. José S. Suquet, Chairman of the Board and CEO of Pan‑American Life Insurance Group, shared some of the key decisions made during that time:
“During the most critical moments of the pandemic, the insurance sector made key decisions to protect its insured members. Pan‑American Life stood out for its firm commitment to protection, providing support to individuals during the most difficult times and reaffirming its responsibility to be present when needed most. While the pandemic posed a major challenge for the insurance sector, it also drove positive changes that strengthened relationships with insured members. In PALIG’s case, the situation accelerated digital transformation, enabling the implementation of online platforms for claims, requests, and customer service.”
“This situation also marked a turning point in the perception of the value of financial protection. The collective experience of the pandemic raised awareness about the importance of having life and health insurance—not only as a safeguard in emergencies but as an essential tool for family stability and well‑being. Today, more people recognize the fundamental role insurance plays in their personal planning and in protecting their loved ones,” he concluded.
Workplace Well‑Being on the Rise: Costa Rica Drives Demand for Health and Life Insurance
According to the 2024 Global Benefits Attitudes Survey, 57% of employees in Latin America believe their workplace benefits meet their needs. They especially value those that support physical well‑being and preventive health.
In Costa Rica, the acquisition of health and life‑focused insurance continues to grow steadily. According to the General Superintendence of Insurance (SUGESE), in 2024 life insurance premiums reached 202.6 billion colones and health insurance premiums totaled 175.7 billion colones.
The sustained growth in insurance adoption by the business sector reflects a strategic evolution in talent management, where comprehensive protection is positioned as a key component of the value offered to employees. In this context, PALIG Costa Rica has become a trusted insurance partner, supporting more than 500 local and multinational companies that rely on its expertise, financial strength, and ability to deliver comprehensive health, life, and wellness solutions.
Insurance That Cares for Our Insured Members at Every Stage
In 2025, Costa Rica recorded 2,211,416 people employed in formal jobs, according to data from the Ministry of Labor and Social Security (MTSS). This represents an increase of 53,846 people compared to 2024, when 2,157,570 formal jobs were recorded—an annual growth of 1.4%. For Pan‑American Life, the opportunity lies in keeping employees healthy through preventive strategies.
Mario Naranjo, Country Manager, stated that “PALIG’s commitment goes beyond paying claims; with this in mind, access to primary medical care programs, chronic disease management, telemedicine, dental coverage, mental health, home doctor visits, and a strengthened portfolio of life, accident, and recently travel insurance have all been enhanced—each designed to meet the specific needs of every client.”
According to the Society for Human Resource Management (SHRM), 90% of employees consider medical care to be an extremely or very important benefit. In response, PALIG continues its strategy in corporate health benefits, expansion into small and Medium Size Enterprises (SMEs), and mass marketing with its latest launch of the self‑issued group Travel Protection insurance, offering differentiated value for customers at affordable costs.
PALIG Costa Rica’s financial strength is also reflected in a complete range of personal insurance products designed to protect what matters most: life, health, and well‑being for individuals and families. PALIG’s life insurance provides essential financial support for families in the event of a loved one’s death, offering stability and peace of mind during difficult times, while safeguarding their assets, present, and future.
Its health insurance guarantees access to high‑quality medical services, including hospital care and specialized treatments. Additionally, personal accident insurance offers protection against unexpected events, covering medical expenses and providing financial support in situations that may affect health, mobility, or income‑generating capacity.
PALIG Costa Rica will remain committed to contributing to the sustainable growth of the insurance industry in the country, while also safeguarding the comprehensive well‑being of its insured members and strategic partners.
ABOUT PAN‑AMERICAN LIFE INSURANCE GROUP (PALIG)
Founded in 1911 and headquartered in New Orleans, Pan‑American Life Insurance Group (PALIG) provides life, accident, and health insurance to more than 7.1 million customers across the United States, Latin America, and the Caribbean. Operating in 22 countries with more than 2,200 employees, PALIG holds a Financial Strength Rating of A (Strong) from Fitch Ratings and A (Excellent) from AM Best, PALIG delivers trusted financial protection and lifelong well‑being. Learn more about how they are people you can trust for life at palig.com.